It’s that time of year again! Medicare’s annual open enrollment period began in mid-October and will run until December 7. During this period, people already enrolled in Medicare can make certain changes to their coverage:

The Social Security Administration (SSA) has announced the cost-of-living adjustment (COLA) for 2018 will be 2%, the biggest increase since 2012. The adjustment is based on the increase in the Consumer Price Index (CPI) from the third quarter of 2016 through the third quarter of 2017.

The Centers for Medicare and Medicaid Services announced that monthly premiums for Medicare will be increasing next year. Seventy percent of Medicare beneficiaries are protected by the “hold harmless” provision, which says benefit checks cannot decrease due to Medicare increases. The provision was triggered by the small 0.3% cost of living increase to Social Security for 2017. If you are covered by the hold harmless provision and you are currently paying $104.90/month, your premium will increase to $109/month.

The Social Security Administration (SSA) has announced that the cost-of-living adjustment (COLA) for 2017 will be 0.3%, the smallest increase since automatic increases began in 1975. The adjustment is calculated using the percentage increase in the Consumer Price Index (CPI) over the previous year.

This summer, states have begun rolling out a new type of investment account that is tailored to help families take care of children and adults with special needs.

The ABLE account is a tax-advantaged vehicle for individuals with disabilities that will allow families to save without jeopardizing government benefits such as Supplemental Security Income and Medicaid.